Page:Ruffhead - The Statutes at Large - vol 5.djvu/449

 A. D. 1721. Anno octavo Georgii Regis. C. 21. 403 he Exchequer, to the faid Company, not exceeding two hundred thoufand Pounds a Year, by way of Lottery, Subfcription or otherwifc, at fuch Time or Times, and in fuch Manner, as by the General Court of the faid South-Sea Company {hall from Time to Time be thought lit and expedient. , . II. Provided, That nothing herein contained lhall be conftrued to extend to alter the Provifion made ™" f ]. r " v °f.^ by an A 61 made in the laft Seffion of Parliament, intituled, An Acl for making feveral Provifions to reftore i'„ the Aft of the Publick Credit, which fujfers _ by the Frauds and Mismanagements of the lute Directors of the South-Sea ^ Ceo. i. flat. Company and others, for paying in ten per Centum upon fuch Loans, and thereupon difcharging the Bor- z. c : '• for pay rowers from all further Demands of the faid South-Sea Company, for or in Rcfpe6t of the Monies fo bor- '"% '" ,M >'" rowed upon Stock or Subfcription-Receipts, and for abfolutely vefring in the faid South-Sea Company L ^j L? £[ fuch Stock and Subfcription-Receipts fo transferred and pledged, and for which Payments fhall be made or tendred, according to the true Intent and Meaning of the fame A6t, or to difcharge any Perfon or Per- fons, who have not intitled themfelves to the Benefit ef the faid A6f, by making Payments according to the Directions of the fame Act, of or from any Debt or Debts, due or owing to the (aid South-Sea Com- pany, upon fuch pledged Stock and Subfcription-Receipts, over and above the Profit and Advantage that fhall be made by the faid Company by Sale, or other Difpofition of fuch pledged Stock, and the Stock allowed for, or ariiing from or by Means of fuch Subfcription-Receipts, fo pledged to the Company as aforefaid. III. Provided always, and it is hereby enacted by the Authority aforefaid, That if the faid South-Sea If South S«» Company fhall think fit to raife all or any Part of the Money, by this Act authorized to be raifed for ^™f "^"p,. Payment of their Debts, by way of a Lottery, then no Contribution or Contributions to fuch a Lottery m °M ofthtir^" or Lotteries, fhall be received or taken in after the twenty-fourth Day of December which (hall be in the Debts, by way of Year of our Lord one thoufand feven hundred and twenty-three. Locteiy, ooCon- tributions to be taken in after 24 Vec. 1723. IV. Provided alfo, and it is hereby enacted by the Authority aforefaid, That in cafe the faid South-Sea Purchafers of ^ Company fhall think fit, in Purfuance of any Refolution or Refolutions of their General Court, to raife * he c ?™P an y s all or any Part of the Money by this Act intended to be raifed, for Payment of the faid Company's Debts, bi" "t'the Ex- ** by felling or difpoftng any Part or Parts of the yearly Funds or Annuities of the faid Company, now pay- chequer, intitled able at the Exchequer, after the Rate of five Pounds per Centum per Annum (fuch Part or Parts not to ex- to the Receipt, ceed in the whole two hundred thoufand Pounds per Annum as aforefaid) then the Perfon or Perfons, Body or Bodies Politick or Corporate, who fhall contract or agree for purchafing fuch Part or Parts of the faid Annuities, or yearly Funds of the faid Company, fhall be and be deemed to be able and capable in Law, to purchafe, take, hold and enjoy the fame, and fhall have, receive and enjoy, and be intitled by Force and Virtue of this Act, to have, receive and enjoy the Part or Parts fo purchafed, from fuch Time or Times as fhall be agreed upon by or between the faid Company and the Purchafer or Purchafers re- fpectively. V. And it is hereby enacted by the Authority aforefaid, That all Arrears of fo much as fhall be pur- Arrears of An- chafed as aforefaid, of and in the Annuities or yearly Funds of the faid Company, as fhall be due and ""''■' s P urch ?T computed by the Day to the Time or refpective Times to be agreed upon as aforefaid, fhall be and re- L'-™'^ 1 * main payable to the faid Company, by weekly Payments or otherwifc, as the Money appointed or in- tended by any A6t or Acts of Parliament to be applied for or towards the Payment of fuch Part or Parts to be purchafed as aforefaid, of and in the faid Annuities or yearly Funds, and the fame {hall be fully paid and fatisfied before any of the Payments, by this Act directed or intended to be made to fuch Purchafer or Purchafers, fhall be made ; and that fo much of the faid Part or Parts to be purchafed as aforefaid, of and in the Annuities or yearly Funds of the faid Company, as fhall be computed by the Day from the Time or refpective Times to be agreed upon as aforefaid, until the ufual quarterly Feaft-day then next enfuing, fhall be reckoned to be due at the faid next fucceeding Feaft-day, and that from and after the fame Feaft- day, the faid Part or Parts of the faid Annuities, or yearly Funds to be purchafed as aforefaid, fhall grow and be accounted due quarterly, at the four moft ufual Feafts in the Year, by even and equal Portions •f neverthelefs to be fatisfied by weekly or other Payments, as is herein after mentioned) and that the faid Part or Parts of the faid Annuities, or yearly Funds fo to be purchafed, fhall be paid and payable to the faid Perfon or Perfons, Body or Bodies Politick or Corporate, who fhall purchafe the fame, his, her or their Executors, Administrators, Succeflbrs and Affigns refpectively, out of the Monies arifen or to arife into the faid Exchequer, of or for the particular Duties, Revenues, proportional Parts of Revenues, or other Provifions now charged or chargeable with the fame as Annuities, or as Part of the Annuities of the faid Company, after the Rate of five Pounds per Centum per Annum, until and for the Feaft of the Nativity of •Saint John the Baptifi which fhall be in the Year of our Lord one thoufand feven hundred and twenty- feven, and from thenceforth at the Rate of four Pounds per Centum per Annum, urftil Redemption by Par- liament, according to the Tenor and true Meaning of this A6t ; and that all the Precepts, Directions, Powers, Authorities, Penalties, Forfeitures and Difabilities, Clauies, Matters and Things contained in any Actor A6ts of Parliament now in Force, for or in order to the fatisfying, iffuing, paying or ftcuring the Annuities or yearly Funds of the faid Company, fhall be applied, practifed, and put in Execution for •fatisfying, iffuing, paying or fecuring the faid Part or Parts, after the purchafing thereof, to the Purcha- fer or Purchafers, his, her or their Executors, Adminiftrators, Succeflbrs and Affigns refpectively, as fully and effectually as the fame Part or Parts fhould or ought to have been iffued, paid or fecured, if the fame were not fold as aforefaid, and as fully and effectually as if all and every the faid Precepts, Directi- ons, Powers, Authorities, Penalties, Forfeitures and Difabilities, Claufes, Matters and Things, were again repeated in this Act. Fff 2 VI. Pro-